The South Korean and the United States’ antitrust regulators have discussed ways of enhancing bilateral cooperation on antitrust principles to promote economic fair competition, the regulator here said Wednesday.

The discussions were made during a meeting between Cho Hong-sun, vice chairperson of the Fair Trade Commission (FTC), and Manish Kumar, deputy assistant attorney general for Criminal Enforcement at the U.S. Department of Justice’s Antitrust Division, in Seoul on Tuesday, according to the FTC.

During the talks, the two sides shared their policy goals for this year and experiences of handling price fixing, fraud and a wide range of antitrust matters, particularly regarding the digital economy.

They also discussed how to strengthen bilateral relationships to better respond to illegal moves that hamper fair competition, the FTC said.

“The two sides have maintained close exchanges after signing a memorandum of understanding on antitrust cooperation in 2015,” the FTC said in a release. “South Korea wi
ll continue to boost international policy cooperation with foreign antitrust authorities in an effort to better ensure the people’s economic freedom and opportunities.”

Source: Yonhap News Agency